Farstad Shipping is planning to lay up two PSVs and three AHTSs in Norway due to what it described as “an expected further weakening of the offshore market”.
Approximately 100 employees offshore, mostly Norwegian nationalities, will be laid off.
“To lay up vessels and lay off our employees is a painful measure, especially for those of our employees who are personally affected by the measures. This is deeply regrettable, but necessary due to the current market situation,” said Karl-Johan Bakken, CEO of Farstad Shipping.
“Even if it looks dark now, we know there will be better times. We have been through heavy storms before,” he added.
Prior to this Farstad has two vessels laid up in Norway and two vessels laid up in Asia.
